Credit card use has increased significantly during the Corona pandemic. Shopping is easy with credit cards, but it is also important to pay your credit card bills on time. If the bill is not paid on time, a large penalty will have to be paid. If you are an ICICI Bank customer and use a credit card, you will have to pay higher penalty for late payment of bills. Meanwhile, ICICI Bank will change the credit card charges from February 10, 2022. With this change, Cash Withdrawal will also become more expensive. The bank has also revised the late payment charges for all cards except Emerald.
After February 10, if your credit card arrears are up to Rs 10,000, late payment will result in a penalty of Rs 750. Rs 900 for arrears up to Rs 25,000 and Rs 1,000 for arrears up to Rs 50,000. If the balance is more than Rs. 50,000, late payment fee up to Rs. 1,200 has to be paid. In addition, Rs 50 and GST will be deducted from the customer's savings bank account.
No late charges will be levied on ICICI Bank customers whose credit card arrears are less than Rs 100. A balance fee of Rs.100 / - will be charged on the balance of Rs.100 to Rs.500. If your credit card balance is between Rs. 501 to Rs. 5,000, the bank will charge you Rs. 500 for late payment.
According to ICICI Bank, a customer will have to pay a minimum of Rs 500 for a credit card withdrawal. This charge will be applicable on cash up to Rs. 20,000. If you withdraw more than this amount, you will have to pay a penalty of 2.5% of the total amount. In case of failure of check return and auto debit return, a minimum penalty of Rs.500 / - will be charged.